When Bitcoin’s anonymous creator, Satoshi Nakamoto, released the whitepaper during the 2008 financial crisis, he proposed a borderless, decentralized payment system that would allow individuals to send money freely across the world. It was a revolutionary idea that promised financial freedom, greater autonomy, and reduced reliance on centralized entities like banks.
Fast forward to today, and while the cryptocurrency landscape has expanded far beyond Bitcoin, there remains a key mismatch. Platforms designed to support the crypto revolution are often optimized for Western markets, focusing on desktop-first experiences and banking systems familiar to users in North America and Europe. Meanwhile, the real drivers of global crypto adoption are emerging markets, which are experiencing rapid growth in user bases and a high demand for decentralized finance solutions.
To truly tap into this potential, crypto platforms must prioritize localization to ensure their offerings are accessible, usable, and culturally relevant for these markets.
Emerging Markets: The Real Drivers of Crypto Growth
The numbers tell a story that should reshape how we think about crypto adoption. According to a recent Chainalysis report, the top three spots in the 2025 crypto adoption index were held by India, Nigeria, and Indonesia, with only four developed economies even making it into the top 20. This data point is part of a larger trend. Proprietary data from crypto exchange Paybis shows a 66% year-on-year user increase in developing economies, a growth rate that outpaces that of developed markets by a factor of two.
What’s driving this explosive growth? For many in these regions, crypto is a necessity, not an investment. Their motivations are fundamentally different from those in the West.
One of the most powerful drivers is the need for a hedge against inflation. In countries like Argentina and Turkey, where local currencies have been subject to significant devaluation, cryptocurrencies offer a stable alternative to protect savings from a volatile economic landscape. While some research suggests Bitcoin’s volatility can limit its effectiveness as a long-term inflation hedge, its increasing adoption in these hyper-inflationary economies demonstrates its perceived value as a safe haven.
Another key motivator is banking the unbanked. Globally, an estimated 1.4 billion adults remain without access to formal banking services. For these individuals, a traditional bank account is often out of reach due to a lack of documentation, geographical barriers, or high fees. With just a smartphone and an internet connection, crypto platforms can provide access to financial services that are secure, accessible, and affordable. This is a stark contrast to the primary use case for crypto in Western markets, where it is often seen as an investment vehicle for speculation rather than a utility for daily financial life.
The Localization Gap: Why Western-Centric Platforms Fail
Despite the clear demand, many global crypto platforms are struggling to capitalize on this opportunity. Their failure often stems from a localization gap: a fundamental disconnect between their Western-centric design and the realities of a global user base.
One of the most significant issues is the assumption of a desktop-first user. A recent study found that as of July 2025, mobile accounts for 60.5% of global web traffic, and in regions like Asia and Africa, mobile-first experiences are standard. In Lagos, Nigeria, for instance, over 96% of users register on a crypto platform via mobile, a stark contrast to the desktop-first behavior common in countries like Canada, Australia, or Japan. A clunky, non-responsive interface designed for a desktop monitor is a significant barrier to entry for the majority of the world’s crypto users.
This poor user experience is compounded by non-localized flows, which lead to high drop-off rates. This is particularly evident in the KYC (Know Your Customer) and payment processes. Many platforms require forms of identification or bank transfers that are either difficult or impossible for users in developing markets to obtain or complete. In these markets, 14% fewer users initiate KYC, 20% fewer are approved, and 11% fewer complete transactions. The reliance on traditional Western banking rails and identification systems creates friction at every step of the user journey, resulting in lower initiation and completion rates.
Another challenge is that the crypto industry’s use of specialized and often English-centric terminology poses a significant barrier to adoption in emerging markets. Many key concepts—like “wallet,” “staking,” or “NFT”—lack direct translations or carry different meanings across cultures, making them confusing or inaccessible to non-English speakers. This linguistic gap can hinder understanding, reduce trust, and complicate education, marketing, and regulation efforts. As a result, crypto technologies may feel foreign or intimidating, slowing their integration into local economies and communities.
This is why localization is essential for improving business outcomes.
What Effective Localization Looks Like
Effective localization is about cultural, legal, and operational adaptation. Here are the key components:
1. Mobile-First, Multilingual Interfaces: Given the mobile-first nature of emerging markets, platforms must prioritize a flawless mobile user experience. This includes designing responsive layouts, minimizing data usage, and providing interfaces in multiple local languages.
2. Localized Terminology and Education: The crypto industry’s reliance on complex, English-centric jargon creates a significant barrier to entry. To overcome this, platforms must invest in linguistically and culturally adapting their content.
This involves developing educational materials—from blog posts and videos to in-app tutorials—that help users understand technical and unfamiliar concepts, increasing trust.
Clearly Local helped Phemex with this very issue. By creating a steady stream of high-quality educational content, the blockchain platform was able to significantly improve comprehension and user engagement in its target markets.
3. Localized KYC and Payment Methods: To reduce friction, platforms must adapt their KYC processes to accept a wider range of government-issued IDs and develop payment integrations with local banking systems, mobile money services, and government-backed payment networks.
One great example is the integration of PIX in Brazil. PIX is Brazil’s government-backed instant payment system, allowing for instant, zero-fee transfers between transactional accounts at any time. By integrating PIX, platforms like Mercado Bitcoin saw a significant reduction in drop-offs and a marked increase in onboarding completion rates. This is because the integration allowed users to use a payment method they were already familiar with and used daily, eliminating the need for complex bank transfers or credit cards. This example highlights how adapting to local financial ecosystems can transform the user experience and drive tangible growth.
4. Legal and Regulatory Compliance: The crypto landscape is governed by a patchwork of ever-changing regulations. A successful localization strategy must include legal and regulatory compliance in local languages, ensuring that user agreements, AML/KYC policies, and compliance filings are all legally sound and accessible to users.
Leaders in the space like Coinbase have their localization team work closely with product and legal teams to align on dynamic placeholders for market-specific components (e.g., currency) and regulatory requirements. This ensures the user experience is seamless and compliant from the start.
Conclusion: Localization as the Gateway to Crypto’s Future
The promise of cryptocurrency is a borderless financial system, one that transcends national boundaries and provides economic access to all. But this promise will remain unfulfilled if platforms continue to operate with a Western-centric mindset. The real drivers of adoption are already here, but they need platforms that speak their language, understand their challenges, and integrate with their daily lives.
By prioritizing a robust, holistic localization strategy—one that focuses on cultural nuance, mobile-first design, and local payment integration—crypto platforms can not only stay competitive but also lead the next wave of global adoption. The platforms that invest in localization today are not just gaining a competitive advantage; they are building the gateway to crypto’s future and fulfilling its ultimate mission of financial inclusion for everyone, everywhere.
